Securities and Exchange Commission of the Philippines (SEC)

Basic Information About SEC Philippines

The Securities and Exchange Commission of the Philippines (SEC; Filipino: Komisyon sa mga Panagot at Palitan) is the primary government regulatory agency overseeing corporations and securities markets in the Philippines. Headquartered at 7907 Makati Avenue, Bel-Air, Makati, Metro Manila, it operates under the Department of Finance with extension offices across major Philippine cities including Baguio, Cebu, Davao, and Iloilo.

Historical Background and Establishment

Established on October 26, 1936 under Commonwealth Act No. 83 (Securities Act), the SEC was created during a local stock market boom to safeguard public interest, modeled after the U.S. SEC established two years prior. Operations formally began on November 11, 1936 with Ricardo Nepumoceno as first commissioner. The agency was abolished during Japanese occupation but reactivated in 1947. Significant reorganizations occurred in 1975 (Presidential Decree No. 902-A granting absolute jurisdiction over corporations) and 2000 with the Securities Regulation Code (RA 8799) emphasizing capital market development and investor protection. The Revised Corporation Code (RA 11232) in 2019 further strengthened its mandate.

Legal Authority and Regulatory Framework

The SEC derives its authority from multiple laws including:

• The Securities Regulation Code (RA 8799)
• Revised Corporation Code of the Philippines (RA 11232)
• Presidential Decree No. 902-A (as amended)
• Investment Company Act (RA 2629)
• Financing Company Act (RA 8556)
• Credit Information System Act (RA 9510)
• Anti-Money Laundering Act (RA 10365)
• Ease of Doing Business Act (RA 11032)

It uniquely combines corporate registrar functions with securities regulation, providing comprehensive oversight of business and investment activities.

Key Functions and Regulatory Scope

The SEC’s major responsibilities include:

• Registration and supervision of all corporations, partnerships and associations
• Securities registration and financial condition evaluation of issuers
• Market regulation including stock exchanges and capital market participants
• Investor protection through enforcement actions
• Corporate governance oversight
• Policy formulation for securities markets
• Administration of 20+ related financial laws

It regulates entities including stock/non-stock corporations, partnerships, investment houses, financing companies, and NGOs.

Organizational Structure

The Commission is led by a Chairperson (currently Emilio B. Aquino) with four commissioners. It operates through:

• 4 operating departments (CRMD, MSRD, CGFD, EIPD)
• 4 support services departments (HRAD, ERTD, ICTD, FMD)
• 3 special offices (OCS, OGC, OGA)
• 10 regional extension offices

Comprehensive Contact Information

Main Office: SEC Building, 7907 Makati Avenue, Bel-Air, Makati City 1209 Philippines

Contact Channels:

• Trunkline: (+632) 8818-5701
• Hotline: (+632) 8818-6337
• Email: [email protected]
• Express System: secexpress.ph for document requests

Regional offices are located in Baguio, Tarlac, Legazpi, Iloilo, Bacolod, Cebu, Tacloban, Cagayan de Oro, Davao, and Zamboanga.

How to Verify Regulated Entities

To check if a company is SEC-registered:

1. Visit the SEC Express System at secexpress.ph
2. Search by company name or SEC registration number
3. Available documents include Certificates of Registration and current reports
4. For broker-dealers, check the Markets and Securities Regulation Department
5. For investment companies, verify through SEC’s updated advisories

The SEC maintains active surveillance and publishes investor alerts about unregistered entities.